Workplace injury can involve considerable costs to an injured worker and their employer. The direct financial cost of injury is often felt quickly by both workers and employers and is easier to anticipate. But when an injury actually occurs many costs that may not have been considered can affect both the worker and the employer. These can include financial, social and health costs.
If workers become aware of some of these potential hidden costs they may become more involved in workplace safety programs to prevent injuries occuring.
Employers quickly come to realise that safe business is good business when they add up the hidden costs of a serious injury to their workers. These costs can continue after the worker has returned to work and sometimes amount to far more than the direct costs.
The diagram below shows some of the hidden costs that may affect workers and employers when an injury occurs. As you can see, the financial problems created are frequently only the ‘tip of the iceberg’.
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